{"id":6707,"date":"2024-03-20T10:44:54","date_gmt":"2024-03-20T02:44:54","guid":{"rendered":"https:\/\/trovegroup.com.au\/?p=6707"},"modified":"2024-03-20T10:44:54","modified_gmt":"2024-03-20T02:44:54","slug":"treasury-seeking-consultation-on-new-superannuation-changes","status":"publish","type":"post","link":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/","title":{"rendered":"Treasury seeking Consultation on new Superannuation Changes"},"content":{"rendered":"<h1><strong>Treasury seeking Consultation on new Superannuation Changes<\/strong><\/h1>\n<p>The government is seeking consultation and feedback on the recent drafting of exposure draft regulations concerning the\u00a0proposed changes to superannuation tax concessions as announced in the 2023\u201124 Budget.<\/p>\n<p>As a recap, under the proposed changes, there will be an additional tax at a rate of up to 15% on the portion of earnings attributable to an individual&#8217;s superannuation balance in excess of $3 million.\u00a0 This will be known as the \u2018Div 296 tax\u2019 and is proposed to apply from 1 July 2025.<\/p>\n<p>The draft regulations propose amendments to the <em>Income Tax Assessment (1997 Act) Regulations 2021<\/em> to prescribe certain values, calculations and methods that ensure all applicable superannuation interests will be properly assessed for the purposes of the new Div 296 tax.<\/p>\n<p>The draft regulations also contain provisions that enable the calculation of the Div 296 tax for defined benefit interests. This includes:<\/p>\n<ul>\n<li>outlining methods to value defined benefit interests<\/li>\n<li>making modifications to the Div 296 earnings formula to appropriately capture notional contributions to defined benefit interests.<\/li>\n<\/ul>\n<p>Interested parties are invited to comment on the drafting of these regulations up until <strong>26 April 2024<\/strong>.<\/p>\n<p><a href=\"https:\/\/treasury.gov.au\/consultation\/c2024-478149\" target=\"_blank\" rel=\"noopener\">https:\/\/treasury.gov.au\/consultation\/c2024-478149<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government is seeking consultation and feedback on the recent drafting of exposure draft regulations concerning the\u00a0proposed changes to superannuation tax concessions as announced in the 2023\u201124 Budget.<\/p>\n","protected":false},"author":5,"featured_media":6710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Treasury seeking Consultation on new Superannuation Changes - Trove Group<\/title>\n<meta name=\"description\" content=\"The government is seeking consultation and feedback on the recent drafting of exposure draft regulations concerning the\u00a0proposed changes to superannuation tax concessions as announced in the 2023\u201124 Budget.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Treasury seeking Consultation on new Superannuation Changes - Trove Group\" \/>\n<meta property=\"og:description\" content=\"The government is seeking consultation and feedback on the recent drafting of exposure draft regulations concerning the\u00a0proposed changes to superannuation tax concessions as announced in the 2023\u201124 Budget.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/\" \/>\n<meta property=\"og:site_name\" content=\"Trove Group\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-20T02:44:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"kym@hivedesign.com.au\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"kym@hivedesign.com.au\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/\"},\"author\":{\"name\":\"kym@hivedesign.com.au\",\"@id\":\"https:\/\/trovegroup.com.au\/#\/schema\/person\/92923a3d84a378d8a51e5bcb511d90d7\"},\"headline\":\"Treasury seeking Consultation on new Superannuation Changes\",\"datePublished\":\"2024-03-20T02:44:54+00:00\",\"dateModified\":\"2024-03-20T02:44:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/\"},\"wordCount\":194,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/trovegroup.com.au\/#organization\"},\"image\":{\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg\",\"articleSection\":[\"news\"],\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/\",\"url\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/\",\"name\":\"Treasury seeking Consultation on new Superannuation Changes - Trove Group\",\"isPartOf\":{\"@id\":\"https:\/\/trovegroup.com.au\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg\",\"datePublished\":\"2024-03-20T02:44:54+00:00\",\"dateModified\":\"2024-03-20T02:44:54+00:00\",\"description\":\"The government is seeking consultation and feedback on the recent drafting of exposure draft regulations concerning the\u00a0proposed changes to superannuation tax concessions as announced in the 2023\u201124 Budget.\",\"breadcrumb\":{\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#primaryimage\",\"url\":\"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg\",\"contentUrl\":\"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg\",\"width\":600,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/trovegroup.com.au\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Treasury seeking Consultation on new Superannuation Changes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trovegroup.com.au\/#website\",\"url\":\"https:\/\/trovegroup.com.au\/\",\"name\":\"Trove Group\",\"description\":\"To protect and grow\",\"publisher\":{\"@id\":\"https:\/\/trovegroup.com.au\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/trovegroup.com.au\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/trovegroup.com.au\/#organization\",\"name\":\"Trove Group\",\"url\":\"https:\/\/trovegroup.com.au\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/trovegroup.com.au\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2017\/06\/favicon.png\",\"contentUrl\":\"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2017\/06\/favicon.png\",\"width\":74,\"height\":74,\"caption\":\"Trove Group\"},\"image\":{\"@id\":\"https:\/\/trovegroup.com.au\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.linkedin.com\/company\/troveadvisorygroupptyltd\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/trovegroup.com.au\/#\/schema\/person\/92923a3d84a378d8a51e5bcb511d90d7\",\"name\":\"kym@hivedesign.com.au\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/trovegroup.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1f01880dea9084f0c593ba47bea2fe95?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1f01880dea9084f0c593ba47bea2fe95?s=96&d=mm&r=g\",\"caption\":\"kym@hivedesign.com.au\"},\"url\":\"https:\/\/trovegroup.com.au\/author\/kymhivedesign-com-au\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Treasury seeking Consultation on new Superannuation Changes - Trove Group","description":"The government is seeking consultation and feedback on the recent drafting of exposure draft regulations concerning the\u00a0proposed changes to superannuation tax concessions as announced in the 2023\u201124 Budget.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/","og_locale":"en_US","og_type":"article","og_title":"Treasury seeking Consultation on new Superannuation Changes - Trove Group","og_description":"The government is seeking consultation and feedback on the recent drafting of exposure draft regulations concerning the\u00a0proposed changes to superannuation tax concessions as announced in the 2023\u201124 Budget.","og_url":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/","og_site_name":"Trove Group","article_published_time":"2024-03-20T02:44:54+00:00","og_image":[{"width":600,"height":400,"url":"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg","type":"image\/jpeg"}],"author":"kym@hivedesign.com.au","twitter_card":"summary_large_image","twitter_misc":{"Written by":"kym@hivedesign.com.au","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#article","isPartOf":{"@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/"},"author":{"name":"kym@hivedesign.com.au","@id":"https:\/\/trovegroup.com.au\/#\/schema\/person\/92923a3d84a378d8a51e5bcb511d90d7"},"headline":"Treasury seeking Consultation on new Superannuation Changes","datePublished":"2024-03-20T02:44:54+00:00","dateModified":"2024-03-20T02:44:54+00:00","mainEntityOfPage":{"@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/"},"wordCount":194,"commentCount":0,"publisher":{"@id":"https:\/\/trovegroup.com.au\/#organization"},"image":{"@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#primaryimage"},"thumbnailUrl":"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg","articleSection":["news"],"inLanguage":"en-AU","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/","url":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/","name":"Treasury seeking Consultation on new Superannuation Changes - Trove Group","isPartOf":{"@id":"https:\/\/trovegroup.com.au\/#website"},"primaryImageOfPage":{"@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#primaryimage"},"image":{"@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#primaryimage"},"thumbnailUrl":"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg","datePublished":"2024-03-20T02:44:54+00:00","dateModified":"2024-03-20T02:44:54+00:00","description":"The government is seeking consultation and feedback on the recent drafting of exposure draft regulations concerning the\u00a0proposed changes to superannuation tax concessions as announced in the 2023\u201124 Budget.","breadcrumb":{"@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/"]}]},{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#primaryimage","url":"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg","contentUrl":"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2024\/03\/latest-super-changes-accru-melb-1-1.jpg","width":600,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/trovegroup.com.au\/news\/treasury-seeking-consultation-on-new-superannuation-changes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/trovegroup.com.au\/"},{"@type":"ListItem","position":2,"name":"Treasury seeking Consultation on new Superannuation Changes"}]},{"@type":"WebSite","@id":"https:\/\/trovegroup.com.au\/#website","url":"https:\/\/trovegroup.com.au\/","name":"Trove Group","description":"To protect and grow","publisher":{"@id":"https:\/\/trovegroup.com.au\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/trovegroup.com.au\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-AU"},{"@type":"Organization","@id":"https:\/\/trovegroup.com.au\/#organization","name":"Trove Group","url":"https:\/\/trovegroup.com.au\/","logo":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/trovegroup.com.au\/#\/schema\/logo\/image\/","url":"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2017\/06\/favicon.png","contentUrl":"https:\/\/trovegroup.com.au\/wp-content\/uploads\/2017\/06\/favicon.png","width":74,"height":74,"caption":"Trove Group"},"image":{"@id":"https:\/\/trovegroup.com.au\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/troveadvisorygroupptyltd\/"]},{"@type":"Person","@id":"https:\/\/trovegroup.com.au\/#\/schema\/person\/92923a3d84a378d8a51e5bcb511d90d7","name":"kym@hivedesign.com.au","image":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/trovegroup.com.au\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1f01880dea9084f0c593ba47bea2fe95?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1f01880dea9084f0c593ba47bea2fe95?s=96&d=mm&r=g","caption":"kym@hivedesign.com.au"},"url":"https:\/\/trovegroup.com.au\/author\/kymhivedesign-com-au\/"}]}},"_links":{"self":[{"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/posts\/6707"}],"collection":[{"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/comments?post=6707"}],"version-history":[{"count":2,"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/posts\/6707\/revisions"}],"predecessor-version":[{"id":6711,"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/posts\/6707\/revisions\/6711"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/media\/6710"}],"wp:attachment":[{"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/media?parent=6707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/categories?post=6707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trovegroup.com.au\/wp-json\/wp\/v2\/tags?post=6707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}